Arabian Centers Company logo – Sinomi Centres
Company announced Arab Centers – Sinomi Centers Completion of the issuance of Sharia-compliant sukuks in US dollars, in preparation for the settlement of the sukuks issued on March 6, 2024, with a value amounting to $500 million.
The company said in a statement on Tadawul that it is expected that the issuance will not affect the company’s credit position, as the company intends to refinance the existing sukuk issued in 2019, which are supposed to be due in November of this year, using the proceeds of the issuance.
Below are the details of the offering:
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Details of offering bonds in dollars
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Close
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Clarification
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Version type
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International Sukuks compatible with the provisions of Islamic Sharia in US dollars
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Offer value
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500 million dollars
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Total number (of sukuks/bonds)
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2500 checks
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Nominal value (of the instrument/bond)
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200 thousand dollars
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Return (instrument/bond)
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9.5 %
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Maturity period
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5 years
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Conditions for eligibility for refund
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It is possible that the Sukuks will be redeemed before the liquidation date in certain cases, as detailed in the prospectus dated on or about 4 March 2024 for the Sukuks.
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She stated that a request to list and trade the sukuks had been submitted to the International Securities Commission Limited for the sukuk certificates on the official list of the International Stock Exchange, indicating that the sukuks may be offered under the system (Regulation S) of the United States Securities Exchange Act of 1933, as amended.
The company stated that it will continue to complete all necessary procedures to allocate these bonds to investors.
It clarified that this announcement does not constitute an invitation or offer to buy, own, or subscribe for any securities, noting that it will announce any other fundamental developments in due course.
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